What is the accounting entries for moratorium interest capitalisation
Is TDS applicable on Interest
Yes, It's due 1st -So TDS Applicable.
Post-normal -Interest Payable (Current Liability ) Entry.
7 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 14 July 2021
Yes TDS is applicable on moratorium
Jatin
(Accountant)
(3479 Points)
Replied 14 July 2021
Thank you Mr. Balamurali & Sourav
NBFC add moratorium interest amt in outstanding loan account and increase tenure
what is the accounting entry ?
NBFC add moratorium interest amt in outstanding loan account and increase tenure
what is the accounting entry ?
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 14 July 2021
Credit the interest portion, debit the principal amount.
Jatin
(Accountant)
(3479 Points)
Replied 14 July 2021
Mr. Balamurali Ji,
not understand your accounting entry
below entry is right, please check
Interest account Dr.
Lender account Cr.
not understand your accounting entry
below entry is right, please check
Interest account Dr.
Lender account Cr.
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 14 July 2021
What about the principal portion.
Jatin
(Accountant)
(3479 Points)
Replied 14 July 2021
Lender account means
Aditya Birla Loan A/c - Amount (Principal outstanding)
Aditya Birla Loan A/c - Amount (Principal outstanding)
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